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we're really engaging diplomatically with china and other members of united nations security council on tougher resolutions and possibly sanctions. >> making any progress? >> you have to talk to the ambassadors in new york and the sea to figure out what is going on. -- d.c. to figure out what is going on. >> in beijing, what is the view among the leaders you can tell of kim jong-u7n? -- kim jong-un? >> china would like all the parties that are part of this sixth party talks her to get back to the table, to see if we can encourage better behavior from north korea as opposed to imposing sanctions now and trying to coerce north korea into the fold. that is a difference of opinion of strategy. china really believes we ought to be engaged with north korea. united states feels every time we've tried to engage with north korea, they basically turnaround and failed to respond. >> what is the most important thing the chinese leaders want from you every day? >> the want greater cooperation with united states, because the understand how important united states is for their own economy.
housing, autos, anything china related can be bought right here using weakness as an opportunity to buy and not sell as we work toward a deal. keep in mind that it might take until the super bowl when everyone by then would have seen the truncated paychecks and got to get a deal then. give them the failure of the government to rise up to a compromise on the cliff so far. you would expect a bigger sell-off today unless of course you recognize that a compromise is more easily reached in 2013 than 2012 and maybe a stopgap. if we wake for a kick the can deal, what's the point of selling? it's better to be a buyer instead of seller. compromise is far more likely than not despite last night's shenanigans. jack in florida, jack? >> caller: i read your book. i enjoyed it very much. >> thank you. >> caller: i'm following a sector rotation strategy with some of my investments. currently in the material sector. and hoping to catch more of the housing uprise. but with the fiscal cliff looming, i was wondering if you would advise more defenseless strategy like consumer staples or something going int
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